Newberry VA Loan Rates, Closing Costs & Stats

Newberry, SC

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Newberry's 28 lenders originated 49 VA loans during 2022. The total origination value was $13,905,000, with an average VA loan value of $283,776.

Newberry VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Newberry averaged 6.46% for the week of 2023-09-22, compared to the national average (all VA variants) of 6.823% for the same period.

Newberry's average VA mortgage closing costs are $5,887.

The average rate for the prior week (2023-09-15) was 6.54% and one month ago for the week of 2023-08-18, the average rate was 6.52%.

The average rate one year ago was 5.68%.

For refis of the same type during the week of 2023-09-22, the average rate was 6.92%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Newberry VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Newberry level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
NEW DAY FINANCIAL, LLC 5 5.12% $8,380
Mortgage Research Center, LLC 3 5.66% $15,418
Mr. Cooper ( Nationstar Mortgage ) 3 4.29% $7,520
DHI MORTGAGE COMPANY, LTD. 3 4.67% $4,441
QUICKEN LOANS, LLC 2 5.19% $14,832
SUCCESS MORTGAGE PARTNERS, INC. 2 3.50% $15,634
UNITED WHOLESALE MORTGAGE, LLC 2 4.69% $9,170
USAA Federal Savings Bank 2 4.88% $13,171
MOVEMENT MORTGAGE, LLC 2 3.50% $6,589
GUILD MORTGAGE COMPANY 2 3.88% $6,221
Ameris Bank 2 4.13% $5,893
AMERISAVE MORTGAGE CORPORATION 1 4.75% $27,318
Mid-Continent Funding, Inc. 1 5.50% $9,942
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $3,445
NATIONS DIRECT MORTGAGE, LLC 1 5.99% $10,605
PENNYMAC LOAN SERVICES, LLC 1 2.75% $5,640
ROYAL UNITED MORTGAGE LLC 1 5.25% $23,774
INTERCOASTAL MORTGAGE COMPANY 1 3.38% $16,818
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.25% $2,919
Barrington Bank & Trust Company, N.A. 1 2.99% $3,202
BROKER SOLUTIONS, INC. 1 4.99% $6,348
CARDINAL FINANCIAL 1 6.75% $25,192
Carrington Mortgage Services, LLC 1 5.13% $5,965
CROSSCOUNTRY MORTGAGE, LLC 1 5.63% $8,631
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 4.63% $2,780
Flagstar Bank, FSB 1 4.75% $3,727
HOMESIDE FINANCIAL, LLC 1 4.25% $1,314
HOMESTAR FINANCIAL CORPORATION 1 5.63% $2,857

The top Newberry VA lender as defined by loan originations is NEW DAY FINANCIAL, LLC, with 5 VA loans originated. Their average total fees are $8,380, which is $7,038 lower than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Newberry VA lenders (with over 10 loans originated) are .

The lowest rate Newberry VA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Newberry (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $159,450 (-0.2%) $213,676 (-12.2%) 0.00 139
2018-02-01 $161,450 (8.0%) $214,346 (-3.3%) 0.00 129
2018-03-01 $176,250 (21.6%) $235,991 (7.6%) 0.00 116
2018-04-01 $234,000 (56.0%) $258,935 (10.8%) 0.00 107
2018-05-01 $236,500 (32.9%) $260,339 (5.1%) 0.00 91
2018-06-01 $199,900 (12.8%) $256,734 (0.7%) 0.00 102
2018-07-01 $195,700 (8.8%) $238,935 (-1.8%) 0.00 115
2018-08-01 $237,450 (37.9%) $261,611 (12.1%) 0.00 108
2018-09-01 $229,900 (27.8%) $250,899 (5.1%) 0.00 103
2018-10-01 $209,475 (19.7%) $251,663 (9.4%) 0.00 101
2018-11-01 $223,475 (27.7%) $246,556 (11.9%) 0.00 93
2018-12-01 $225,000 (30.5%) $245,314 (13.0%) 0.00 95
2019-01-01 $219,000 (37.4%) $242,047 (13.3%) 0.00 88
2019-02-01 $220,375 (36.5%) $246,760 (15.1%) 0.00 86
2019-03-01 $236,000 (33.9%) $266,512 (12.9%) 0.00 87
2019-04-01 $250,125 (6.9%) $290,021 (12.0%) 0.00 86
2019-05-01 $217,200 (-8.2%) $278,520 (7.0%) 0.00 91
2019-06-01 $195,400 (-2.3%) $259,142 (0.9%) 0.00 86
2019-07-01 $193,100 (-1.3%) $251,170 (5.1%) 0.00 88
2019-08-01 $194,405 (-18.1%) $247,283 (-5.5%) 0.00 95
2019-09-01 $190,211 (-17.3%) $242,552 (-3.3%) 0.00 96
2019-10-01 $187,416 (-10.5%) $239,398 (-4.9%) 0.00 93
2019-11-01 $184,999 (-17.2%) $246,932 (0.2%) 0.00 93
2019-12-01 $187,450 (-16.7%) $246,651 (0.6%) 0.00 95
2020-01-01 $198,450 (-9.4%) $258,781 (6.9%) 0.00 82
2020-02-01 $199,900 (-9.3%) $272,399 (10.4%) 0.00 86
2020-03-01 $208,408 (-11.7%) $275,522 (3.4%) 0.00 84
2020-04-01 $211,380 (-15.5%) $284,288 (-2.0%) 0.00 85
2020-05-01 $229,950 (5.9%) $302,857 (8.7%) 0.00 81
2020-06-01 $224,424 (14.9%) $299,861 (15.7%) 0.00 63
2020-07-01 $223,427 (15.7%) $295,016 (17.5%) 0.00 59
2020-08-01 $219,900 (13.1%) $276,975 (12.0%) 0.00 48
2020-09-01 $198,625 (4.4%) $239,626 (-1.2%) 0.00 47
2020-10-01 $192,500 (2.7%) $246,698 (3.1%) 0.00 41
2020-11-01 $207,450 (12.1%) $253,676 (2.7%) 0.00 36
2020-12-01 $235,000 (25.4%) $295,374 (19.8%) 0.00 44
2021-01-01 $223,500 (12.6%) $269,204 (4.0%) 0.00 36
2021-02-01 $233,750 (16.9%) $278,941 (2.4%) 0.00 42
2021-03-01 $249,913 (19.9%) $305,775 (11.0%) 0.00 33
2021-04-01 $249,000 (17.8%) $303,252 (6.7%) 0.00 22
2021-05-01 $256,375 (11.5%) $303,944 (0.4%) 0.00 21
2021-06-01 $187,500 (-16.5%) $327,635 (9.3%) 0.00 28
2021-07-01 $275,000 (23.1%) $367,964 (24.7%) 0.00 29
2021-08-01 $257,875 (17.3%) $374,764 (35.3%) 0.00 37
2021-09-01 $304,500 (53.3%) $426,106 (77.8%) 0.00 42
2021-10-01 $295,000 (53.3%) $372,732 (51.1%) 0.00 41
2021-11-01 $299,450 (44.4%) $445,380 (75.6%) 0.00 36
2021-12-01 $299,500 (27.5%) $433,580 (46.8%) 0.00 29
2022-01-01 $259,900 (16.3%) $425,996 (58.2%) 0.00 25
2022-02-01 $245,500 (5.0%) $423,765 (51.9%) 0.00 17
2022-03-01 $300,165 (20.1%) $486,032 (59.0%) 0.00 21
2022-04-01 $302,940 (21.7%) $464,355 (53.1%) 0.00 36
2022-05-01 $308,740 (20.4%) $497,143 (63.6%) 0.00 47
2022-06-01 $309,940 (65.3%) $432,342 (32.0%) 0.00 58
2022-07-01 $306,490 (11.5%) $431,245 (17.2%) 0.00 68
2022-08-01 $310,165 (20.3%) $421,836 (12.6%) 0.00 62
2022-09-01 $310,000 (1.8%) $414,530 (-2.7%) 0.00 59
2022-10-01 $304,390 (3.2%) $392,733 (5.4%) 0.00 68
2022-11-01 $299,950 (0.2%) $369,466 (-17.0%) 0.00 74
2022-12-01 $289,900 (-3.2%) $364,707 (-15.9%) 0.00 73
2023-01-01 $289,095 (11.2%) $374,066 (-12.2%) 0.00 58
2023-02-01 $284,113 (15.7%) $338,327 (-20.2%) 0.00 56
2023-03-01 $276,500 (-7.9%) $359,934 (-25.9%) 0.00 56
2023-04-01 $305,000 (0.7%) $437,500 (-5.8%) 0.00 64
2023-05-01 $401,000 (29.9%) $475,335 (-4.4%) 0.00 48
2023-06-01 $356,750 (15.1%) $458,502 (6.1%) 0.00 41
2023-07-01 $375,000 (22.4%) $462,830 (7.3%) 0.00 39
2023-08-01 $413,750 (33.4%) $503,140 (19.3%) 0.00 44
Newberry's median listing price for 2023-08-01 was $413,750, a difference of $103,585 (33.4%) versus the prior year and $38,750 versus the prior month.

Newberry's median listing price comes in at 0% of the national average.

Newberry's average listing price for 2023-08-01 was $503,140, a difference of $81,304 (19.3%) versus the prior year and $40,310 versus the prior month.

For the 2023-08-01 period, Newberry had 44 MLS listings, a difference of 5 listings (13%) versus the prior month and -18 listings (-29%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Newberry (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,861 sqft
2018-02-01 0 days 1,809 sqft
2018-03-01 0 days 1,945 sqft
2018-04-01 0 days 1,985 sqft
2018-05-01 0 days 2,064 sqft
2018-06-01 0 days 1,883 sqft
2018-07-01 0 days 1,832 sqft
2018-08-01 0 days 1,906 sqft
2018-09-01 0 days 1,926 sqft
2018-10-01 0 days 1,969 sqft
2018-11-01 0 days 1,942 sqft
2018-12-01 0 days 2,007 sqft
2019-01-01 0 days 1,953 sqft
2019-02-01 0 days 1,943 sqft
2019-03-01 0 days 1,906 sqft
2019-04-01 0 days 1,854 sqft
2019-05-01 0 days 1,866 sqft
2019-06-01 0 days 1,834 sqft
2019-07-01 0 days 1,770 sqft
2019-08-01 0 days 1,716 sqft
2019-09-01 0 days 1,716 sqft
2019-10-01 0 days 1,736 sqft
2019-11-01 0 days 1,824 sqft
2019-12-01 0 days 1,857 sqft
2020-01-01 0 days 1,915 sqft
2020-02-01 0 days 2,002 sqft
2020-03-01 0 days 2,001 sqft
2020-04-01 0 days 1,979 sqft
2020-05-01 0 days 1,997 sqft
2020-06-01 0 days 1,945 sqft
2020-07-01 0 days 1,893 sqft
2020-08-01 0 days 1,978 sqft
2020-09-01 0 days 1,912 sqft
2020-10-01 0 days 1,929 sqft
2020-11-01 0 days 1,997 sqft
2020-12-01 0 days 1,967 sqft
2021-01-01 0 days 2,009 sqft
2021-02-01 0 days 1,933 sqft
2021-03-01 0 days 1,918 sqft
2021-04-01 0 days 2,044 sqft
2021-05-01 0 days 1,964 sqft
2021-06-01 0 days 1,690 sqft
2021-07-01 0 days 1,950 sqft
2021-08-01 0 days 2,020 sqft
2021-09-01 0 days 2,111 sqft
2021-10-01 0 days 2,100 sqft
2021-11-01 0 days 2,100 sqft
2021-12-01 0 days 2,156 sqft
2022-01-01 0 days 2,096 sqft
2022-02-01 0 days 1,821 sqft
2022-03-01 0 days 2,038 sqft
2022-04-01 0 days 2,049 sqft
2022-05-01 0 days 2,196 sqft
2022-06-01 0 days 2,196 sqft
2022-07-01 0 days 2,196 sqft
2022-08-01 0 days 2,232 sqft
2022-09-01 0 days 2,361 sqft
2022-10-01 0 days 2,303 sqft
2022-11-01 0 days 2,234 sqft
2022-12-01 0 days 2,196 sqft
2023-01-01 0 days 2,211 sqft
2023-02-01 0 days 2,182 sqft
2023-03-01 0 days 2,196 sqft
2023-04-01 0 days 2,176 sqft
2023-05-01 0 days 2,354 sqft
2023-06-01 0 days 2,175 sqft
2023-07-01 0 days 1,886 sqft
2023-08-01 0 days 1,905 sqft
Newberry's median listing age (time on market) for 2023-08-01 was 0 days.

Newberry's median square footage for active listings during the 2023-08-01 period was 1,905 sqft. One year prior, the average listing was 2,232 sqft.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.